EVgo, Inc. (NASDAQ:EVGO) Shares Bought by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its holdings in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 175.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,949,622 shares of the company's stock after buying an additional 3,153,073 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.63% of EVgo worth $20,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mariner LLC bought a new stake in EVgo during the 4th quarter valued at $48,000. SCP Investment LP acquired a new stake in EVgo in the fourth quarter worth about $60,000. Clear Harbor Asset Management LLC bought a new position in EVgo in the 4th quarter valued at about $72,000. Polymer Capital Management US LLC acquired a new position in EVgo during the 4th quarter valued at about $73,000. Finally, Raymond James Financial Inc. bought a new stake in shares of EVgo during the 4th quarter worth about $80,000. 17.44% of the stock is owned by institutional investors.

EVgo Stock Performance

Shares of NASDAQ:EVGO opened at $3.66 on Monday. The company has a market capitalization of $1.12 billion, a PE ratio of -8.71 and a beta of 2.27. The stock has a fifty day moving average of $2.71 and a 200-day moving average of $4.02. EVgo, Inc. has a one year low of $1.80 and a one year high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $75.29 million for the quarter, compared to analysts' expectations of $70.11 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company's revenue for the quarter was up 36.4% on a year-over-year basis. As a group, research analysts forecast that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EVGO shares. UBS Group reduced their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Roth Capital restated a "buy" rating on shares of EVgo in a research report on Wednesday. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Evercore ISI dropped their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Finally, Stifel Nicolaus decreased their target price on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $6.25.

EVgo Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.

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